Learn More About Solar Incentives

The cost of going solar has gone invariably high these past few months, and you can probably blame the higher tariffs on imported solar panels for this. While there is nothing you can do to lower the taxes imposed on these solar panels, there are ways for you to reduce the cost of having a solar power system installed in your home. one such way you can reduce costs is by taking advantage of incentives and rebates that your local government has for you.

Tax Credits and Tax Exemptions

All over the US, those who choose to buy their solar panels and systems in cash can take advantage of the ITC or Investment Tax Credit. This is a federal tax credit that allows those who convert to solar energy to receive tax credit of around 30% of the total cost of their system. This means that if you purchase your solar power system for $15,000, you only have to pay $10,500 with the help of the ITC.

In Florida, you will find that people are encouraged to convert to solar, and this is done with the help of the state’s many tax exemptions and incentive programs. For instance, in other states, the amount in property taxes will go up when you convert to solar, which makes it somewhat discouraging for people to move to renewable energy sources. In Florida, if you convert to solar energy, your property taxes remain the same even if the value of your property increases due to the conversion to solar.

Another plus factor when you go solar in the Sunshine State is you get a 6% sales tax savings when you purchase your solar power system. This basically means that if you buy equipment that is geared towards your conversion to a solar-powered energy system, you don’t have to pay the 6% sales tax for such a purchase. The Solar and CHP Sales Tax exemption is what makes this possible.

Make Money from Your Excess Solar Energy

To top it all off, you can even make money from the excess solar energy that you produce. The FL Net Metering program lets you sell back to the grid any excess energy you have so you can provide energy to those who need it while you are not using your solar energy system. This means none of the solar power that is being absorbed and converted by your solar energy system is going to waste.